HCMC – The Government has issued a new decree establishing the National Housing Fund, a state-backed off-budget financial mechanism aimed at expanding social housing development and stabilizing the real estate market.
Decree 302/2025 provides the legal framework for the fund, which has legal entity status and will operate independently of the state budget. The Central Housing Fund will be created by the Government and placed under the management of the Ministry of Construction, while provincial-level People’s Committees will set up and oversee their own local housing funds.
Each fund will have a director, no more than two deputy directors, a chief accountant, and up to five specialized departments. The director of the central fund will be appointed by the Minister of Construction, whereas provincial fund directors will be appointed by chairpersons of provincial People’s Committees.
The fund’s capital sources will include state budget allocations, land-use rights and land value designated for developing social housing infrastructure, proceeds from the sale of public housing assets, and revenues from land auctions. It may also mobilize voluntary contributions and financial support from domestic and international organizations, along with other lawful sources.
The National Housing Fund is tasked with investing in the construction of social housing and associated technical and social infrastructure for rental purposes. It can also expand the social housing stock by receiving or repurposing public housing assets.
In addition, the fund may purchase, commission, or receive housing products from wholly state-owned enterprises; take over resettlement or temporary housing units; accept voluntary donations; or buy commercial housing for lease to civil servants, public employees, and workers.
The Government aims to build at least one million social housing units for low-income households and industrial zone workers by 2030, with a substantial portion planned for completion this year.
